Nikos Tsakos’ Tsakos Energy Navigation (TEN) secured two new long-term charters for two Very Large Crude Carrier (VLCC).
Charters that last three to five years will generate gross revenue for the shipping company of more than $ 110 million over the entire charting period excluding additional revenue that may arise from the profit sharing condition.
We are pleased to announce these charters that reflect the positive signs in the tanker markets and provide protection and significant economic benefits, commented Mr. George Saroglou, TEN spokesman.
The company added Mr. Saroglou, is looking into other charters of this kind, so that together with the tankers operating in the spot market and the receipt of the newly built liquefied natural gas carrier to take advantage of a positive market momentum.
TEN was founded in 1993 and controls a fleet of 71 ships, 8 million dwt, and has an ongoing shipbuilding program that includes an LNG carrier, a suezmax DP2 shuttle tanker and four aframax dual-fuel LNGs.
Latest News
Critical Week for Greece-Cyprus Cable
The study concluded that the social benefits of the interconnection, totaling 8 billion euros, far outweigh its 1.9 billion euros construction cost, resulting in a net social benefit exceeding 6 billion euros.
Roberta Metsola Re-elected President of European Parliament
Her second term will be for a period of two and a half years
ELSTAT: 1.5% Increase in Business Turnover in May 2024
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.
Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight